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SC refuses to stay auction of Sahara’s Aamby Valley assets

Subrata Roy

New Delhi: The Supreme Court on Thursday declined Sahara chief Subrata Roy’s petition to stay the global auction of Aamby Valley property belonging to the group.

Justice Dipak Mishra said the court will stay the auctioning of Aamby Valley only when the Sahara group deposits Rs 1,500 crore with the Securities and Exchange Board of India (SEBI).

“The prayer of the contemnor (Roy) is hereby rejected,” the bench pronounced.

Roy had moved the top court on Wednesday, seeking to put a hold on the auction process to sell the group’s Rs 34,000-crore worth Aamby Valley property by the official liquidator of the Bombay High Court.

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